The self-regulatory body says working with data aggregators increases risk of cyber fraud, unauthorized transactions and identity theft. But aggregators say other links in the information chain are more vulnerable.
BMO Wealth Management aims to modernize its investment service and give advisers better equipment. Others offering automated advice solutions include UBS, Wells Fargo and JPMorgan.
Millennium Bank in Tennessee has quickened approval times on loan applications by using software that frees lenders from repetitive, manual tasks. The result: Loan balances have increased by more than 50% in less than two years.
Some speculate that the banks who do business with credit reporting agencies may be looking for alternatives after mounting concerns about their ability to keep information private. But breaking up is hard to do.
While the banking industry is divided on the use of conversational technology, the San Francisco company believes chatbots can make it easier for customers to discuss their finances.
Software firm MonetaGo and three Indian factoring exchanges have launched a blockchain that can identify invoices that have already been loaned against.
Customers are sprinkling symbols into their texts, and it's a challenge for banks to fine-tune systems to support the use of the cartoon code in communications.
The bank is providing Merrill Edge's do-it-yourself clients with more automated stock and portfolio research, but it plans to hire more financial representatives for those who want in-person advice in branches.
